SOLON, Ohio, April 24, 2018 /PRNewswire/ -- MRI Software, a global leader in real estate software solutions, today announced that Grainger plc, the U.K.'s largest listed residential landlord, has selected MRI Software's open and connected property accounting and financial management platform to support its digital transformation and help power its expanding portfolio.
Grainger plc is the U.K.'s largest listed residential landlord, with a portfolio of 9,000 residential properties valued at £2.7 billion. Grainger has major growth plans with a commitment to invest a further £850 million into purpose-built rental housing in the U.K. by 2020.
As Grainger has shifted its portfolio toward the emerging U.K. build-to-rent market in recent years, the company has announced intentions to build a scalable technology foundation to enable its efficient, rapid growth in the sector. A first step in Grainger's digital transformation is to deploy an open and extensible core real estate management platform to automate business processes and enable scalability without increasing administrative overhead. Grainger also needs the ability to easily integrate software from third-party vendors as it continues to build its customer-facing technology solution, complementing MRI's open software strategy.
"At Grainger, we take pride in developing, owning and operating our properties," said Michael Robinson, Business Technology Director at Grainger. "So, naturally, we need a proptech solution that is tailored to our unique needs and that will protect our competitive advantage. Choosing the right technology is critical as it underpins our growth plans, allows us to build an outstanding customer experience and helps control overheads and costs. We chose MRI's property and financial management suite as we believe its open and connected approach will provide a robust core upon which to build the Grainger business and our range of digital platforms."
The MRI solutions suite selected by Grainger includes Residential Management, a full Financials suite with AP Automation powered by Nexus Systems and Fixed Asset Accounting, as well as Facilities Management solutions.
"The future of software is open and connected," said Dermot Briody, Executive Director for Europe at MRI Software. "Grainger's selection of our platform demonstrates how our approach is resonating in the rapidly growing European property sector. Adopting a customer / tenant centric approach while securing an efficient management platform is critical for real estate organizations as the build-to-rent market continues to expand in Europe. Our partnership with Grainger is a testament to our capabilities in that regard."
About Grainger PLC Grainger, a FTSE250 business, is the UK's largest listed residential landlord. Established in 1912, Grainger prides itself as a leading, responsible and long-term landlord. A market leader in the UK private rented sector ("PRS") and at the forefront of the build to rent sector, Grainger invests in and provides long term, purpose-built, rental homes across the UK. Grainger has a portfolio of residential rental property assets worth over c. £2.7bn and has pledged to invest over £850m into the PRS by 2020 with £690m secured to date.
About MRI Software MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI's comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.